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Business, 23.12.2019 22:31 shan6171

Bjorn owns a 60% interest in an s corporation that earned $150,000 in the current year. he also owns 60% of the stock in a c corporation that earned $150,000 during the year. the s corporation distributed $30,000 to bjorn and the c corporation paid dividends of $30,000 to bjorn. how much income must bjorn report from these businesses? a.$0 income from the s corporation and $30,000 income from the c corporation. b.$90,000 income from the s corporation and $0 income from the c corporation. c.$90,000 income from the s corporation and $30,000 income from the c corporation. d.$30,000 income from the s corporation and $30,000 of dividend income from the c corporation. e. none of these choices are correct.

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Bjorn owns a 60% interest in an s corporation that earned $150,000 in the current year. he also owns...
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